THE SECURITIES HOUSE CO.

Securities House (K.S.C)

SECHStocksBoursa KuwaitDiversified Financials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	8.43M	5.22M	4.89M	7.57M	8.06M
Cost of Revenue	5.47M	4.36M	4.35M	3.81M	3.78M
Gross Profit	2.95M	0.86M	0.54M	3.76M	4.29M
SG&A	1.46M	1.48M	1.16M	1.11M	0.50M
Operating Expenses	2.31M	2.03M	1.73M	1.64M	0.98M
Operating Income	0.64M	-1.17M	-1.19M	2.12M	3.31M
Interest Expense	-431.66K	-388.50K	-479.46K	-85.70K	-43.18K
Other Income/Expense	—	11.01K	9.19K	-19.53K	—
Pretax Income	-1.25M	-1.01M	-0.93M	2.03M	3.83M
Income Tax	—	-9.88K	-10.12K	23.31K	34.97K
Net Income	-1.24M	1.49M	0.55M	2.35M	3.91M
EBITDA	1.28M	-0.65M	-0.71M	2.54M	3.65M
EBIT	0.64M	-1.17M	-1.19M	2.12M	3.31M
EPS (Basic)	-0.00	0.00	0.00	0.01	0.01
EPS (Diluted)	-0.00	0.00	0.00	0.01	0.01
Margins & Efficiency
Gross Margin %	+35.0%	+16.6%	+11.1%	+49.7%	+53.2%
EBITDA Margin %	+15.1%	-12.5%	-14.5%	+33.5%	+45.3%
Net Margin %	-14.8%	+28.6%	+11.3%	+31.0%	+48.5%
Revenue & Income
Revenue	8.43M	5.22M	4.89M	7.57M	8.06M
Revenue Growth (YoY)	+61.3%	+6.9%	-35.5%	-6.1%	+123.3%
Operating Revenue	7.75M	5.31M	4.07M	5.95M	7.44M
Other Revenue	0.67M	-0.09M	0.82M	1.63M	0.63M
Earnings From Equity Investments	-1.21M	0.79M	0.54M	0.51M	0.57M
Gain (Loss) on Sale of Assets	—	—	188.77K	—	—
Expenses & Provisions
Cost of Revenue	5.47M	4.36M	4.35M	3.81M	3.78M
Selling, General & Admin	1.46M	1.48M	1.16M	1.11M	0.50M
Operating Expenses	2.31M	2.03M	1.73M	1.64M	0.98M
Other Operating Expenses	—	-24.71K	-25.31K	53.16K	79.55K
Interest Expense	-431.66K	-388.50K	-479.46K	-85.70K	-43.18K
Other Non Operating Income (Expenses)	—	11.01K	9.19K	-19.53K	—
Impairment of Goodwill	-0.25M	-0.25M	—	-0.50M	—
Amortization of Goodwill & Intangibles	430.78K	400.00K	400.00K	354.53K	200.00K
D&A For EBITDA	633.34K	512.98K	480.90K	412.36K	343.42K
Profitability & Returns
Gross Profit	2.95M	0.86M	0.54M	3.76M	4.29M
Gross Margin	+35.1%	+16.6%	+11.1%	+49.7%	+53.2%
EBIT	0.64M	-1.17M	-1.19M	2.12M	3.31M
EBIT Margin	+7.6%	-22.4%	-24.4%	+28.0%	+41.0%
EBITDA	1.28M	-0.65M	-0.71M	2.54M	3.65M
EBITDA Margin	+15.1%	-12.5%	-14.5%	+33.5%	+45.3%
EBT Excluding Unusual Items	-1.00M	-0.76M	-1.12M	2.53M	3.83M
Pretax Income	-1.25M	-1.01M	-0.93M	2.03M	3.83M
Operating Income	0.64M	-1.17M	-1.19M	2.12M	3.31M
Operating Margin	+7.6%	-22.4%	-24.4%	+28.0%	+41.0%
Profit Margin	-14.8%	+28.6%	+11.3%	+31.0%	+48.5%
Net Income	-1.24M	1.49M	0.55M	2.35M	3.91M
Net Income to Common	-1.24M	1.49M	0.55M	2.35M	3.91M
Net Income to Company	-1.25M	1.39M	0.34M	2.20M	3.82M
Net Income Growth	—	+170.6%	-76.5%	-40.0%	—
Earnings From Continuing Ops.	-1.25M	-1.00M	-0.92M	2.00M	3.80M
Earnings From Discontinued Ops.	—	2.39M	1.26M	0.20M	0.02M
Minority Interest in Earnings	9.30K	100.01K	213.93K	143.46K	92.17K
Income Tax Expense	—	-9.88K	-10.12K	23.31K	34.97K
Effective Tax Rate	—	—	—	+1.2%	+0.9%
Per Share & Capital
EPS (Basic)	-0.00	0.00	0.00	0.01	0.01
EPS (Diluted)	-0.00	0.00	0.00	0.01	0.01
EPS Growth	—	+178.8%	-74.7%	-38.0%	—
Shares Change (YoY)	-0.01	-0.03	-0.07	-0.03	0.05
Shares Outstanding (Basic)	390.14M	392.55M	404.27M	435.60M	450.00M
Shares Outstanding (Diluted)	390.14M	392.55M	404.27M	435.60M	450.00M
Free Cash Flow	-0.93M	-2.95M	-1.63M	3.79M	4.84M
Free Cash Flow Margin	-11.0%	-56.6%	-33.3%	+50.1%	+60.0%
Free Cash Flow Per Share	-0.00	-0.01	-0.00	0.01	0.01

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (KWD)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	8.43M	5.22M	4.89M	7.57M	8.06M
Cost of Revenue	5.47M	4.36M	4.35M	3.81M	3.78M
Gross Profit	2.95M	0.86M	0.54M	3.76M	4.29M
SG&A	1.46M	1.48M	1.16M	1.11M	0.50M
Operating Expenses	2.31M	2.03M	1.73M	1.64M	0.98M
Operating Income	0.64M	-1.17M	-1.19M	2.12M	3.31M
Interest Expense	-431.66K	-388.50K	-479.46K	-85.70K	-43.18K
Other Income/Expense	—	11.01K	9.19K	-19.53K	—
Pretax Income	-1.25M	-1.01M	-0.93M	2.03M	3.83M
Income Tax	—	-9.88K	-10.12K	23.31K	34.97K
Net Income	-1.24M	1.49M	0.55M	2.35M	3.91M
EBITDA	1.28M	-0.65M	-0.71M	2.54M	3.65M
EBIT	0.64M	-1.17M	-1.19M	2.12M	3.31M
EPS (Basic)	-0.00	0.00	0.00	0.01	0.01
EPS (Diluted)	-0.00	0.00	0.00	0.01	0.01
Margins & Efficiency
Gross Margin %	+35.0%	+16.6%	+11.1%	+49.7%	+53.2%
EBITDA Margin %	+15.1%	-12.5%	-14.5%	+33.5%	+45.3%
Net Margin %	-14.8%	+28.6%	+11.3%	+31.0%	+48.5%
Revenue & Income
Revenue	8.43M	5.22M	4.89M	7.57M	8.06M
Revenue Growth (YoY)	+61.3%	+6.9%	-35.5%	-6.1%	+123.3%
Operating Revenue	7.75M	5.31M	4.07M	5.95M	7.44M
Other Revenue	0.67M	-0.09M	0.82M	1.63M	0.63M
Earnings From Equity Investments	-1.21M	0.79M	0.54M	0.51M	0.57M
Gain (Loss) on Sale of Assets	—	—	188.77K	—	—
Expenses & Provisions
Cost of Revenue	5.47M	4.36M	4.35M	3.81M	3.78M
Selling, General & Admin	1.46M	1.48M	1.16M	1.11M	0.50M
Operating Expenses	2.31M	2.03M	1.73M	1.64M	0.98M
Other Operating Expenses	—	-24.71K	-25.31K	53.16K	79.55K
Interest Expense	-431.66K	-388.50K	-479.46K	-85.70K	-43.18K
Other Non Operating Income (Expenses)	—	11.01K	9.19K	-19.53K	—
Impairment of Goodwill	-0.25M	-0.25M	—	-0.50M	—
Amortization of Goodwill & Intangibles	430.78K	400.00K	400.00K	354.53K	200.00K
D&A For EBITDA	633.34K	512.98K	480.90K	412.36K	343.42K
Profitability & Returns
Gross Profit	2.95M	0.86M	0.54M	3.76M	4.29M
Gross Margin	+35.1%	+16.6%	+11.1%	+49.7%	+53.2%
EBIT	0.64M	-1.17M	-1.19M	2.12M	3.31M
EBIT Margin	+7.6%	-22.4%	-24.4%	+28.0%	+41.0%
EBITDA	1.28M	-0.65M	-0.71M	2.54M	3.65M
EBITDA Margin	+15.1%	-12.5%	-14.5%	+33.5%	+45.3%
EBT Excluding Unusual Items	-1.00M	-0.76M	-1.12M	2.53M	3.83M
Pretax Income	-1.25M	-1.01M	-0.93M	2.03M	3.83M
Operating Income	0.64M	-1.17M	-1.19M	2.12M	3.31M
Operating Margin	+7.6%	-22.4%	-24.4%	+28.0%	+41.0%
Profit Margin	-14.8%	+28.6%	+11.3%	+31.0%	+48.5%
Net Income	-1.24M	1.49M	0.55M	2.35M	3.91M
Net Income to Common	-1.24M	1.49M	0.55M	2.35M	3.91M
Net Income to Company	-1.25M	1.39M	0.34M	2.20M	3.82M
Net Income Growth	—	+170.6%	-76.5%	-40.0%	—
Earnings From Continuing Ops.	-1.25M	-1.00M	-0.92M	2.00M	3.80M
Earnings From Discontinued Ops.	—	2.39M	1.26M	0.20M	0.02M
Minority Interest in Earnings	9.30K	100.01K	213.93K	143.46K	92.17K
Income Tax Expense	—	-9.88K	-10.12K	23.31K	34.97K
Effective Tax Rate	—	—	—	+1.2%	+0.9%
Per Share & Capital
EPS (Basic)	-0.00	0.00	0.00	0.01	0.01
EPS (Diluted)	-0.00	0.00	0.00	0.01	0.01
EPS Growth	—	+178.8%	-74.7%	-38.0%	—
Shares Change (YoY)	-0.01	-0.03	-0.07	-0.03	0.05
Shares Outstanding (Basic)	390.14M	392.55M	404.27M	435.60M	450.00M
Shares Outstanding (Diluted)	390.14M	392.55M	404.27M	435.60M	450.00M
Free Cash Flow	-0.93M	-2.95M	-1.63M	3.79M	4.84M
Free Cash Flow Margin	-11.0%	-56.6%	-33.3%	+50.1%	+60.0%
Free Cash Flow Per Share	-0.00	-0.01	-0.00	0.01	0.01